Kate Harrison is in the process of launching an educational services firm. She plans to incorporate the firm. Because the firm will be incorporated, Kate is legally required to have a:
A) board of investors
B) board of advisors
C) customer advisory board
D) board of directors
E) panel of advisors and peers

Question

Quizplus · Accepted Answer

When incorporating a business, it is legally required to have a board of directors, which is responsible for the management and oversight of the corporation. The board of directors is accountable to the shareholders and makes important decisions that affect the company, such as appointing officers, setting policies, and declaring dividends. Therefore, option D - "board of directors" is the best choice. Options A, B, C, and E are not required by law and are not typically associated with the formal incorporation process.

Kate Harrison Is in the Process of Launching an Educational